Birchtech's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Birchtech (BCHT) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Birchtech vs Its Competitors
- TTM: Trailing 12-month revenue of 19M vs 123M combined for its competitors (13.4% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-21.0% annualized vs trailing 12 months), vs decelerating (-3.2%) for its tracked peer group.
- Growth: Birchtech generated 16.5% revenue growth year over year in Q2 2026, vs 4.5% for its competitors combined.
- Profitability: Its -79.6% net margin compares with -2.5% for the peer group.
- Scale: Birchtech ranks #16 of 21 companies by market capitalization in the Scientific & Technical Instruments industry, holding 0.0% of industry market cap.
- Peer revenue share: Birchtech accounted for 11.3% of combined revenue among its tracked peer group, up from 10.2% a year earlier.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
BCHT Sales vs. its Competitors, Q2 2026
Birchtech reported revenue growth of 16.50 % year on year in Q2 2026, above its competitors' combined revenue growth of 4.54 %.
With a net margin of -79.60 %, Birchtech reported lower profitability than its competitors (-2.45 %).
Birchtech generated 11.26 % of the combined sales of its peer group, up from 10.22 % a year earlier.
API endpoints for this dataset
Birchtech vs. its Competitors, Q2 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Birchtech reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Birchtech and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Birchtech Corp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Birchtech's competitor groups requires a Commercial License.
For context: the Scientific & Technical Instruments industry grew revenue 14.1% year over year, combined, vs 16.5% for Birchtech. Birchtech's share of combined industry revenue moved from 0.01% to 0.01%, a gain of 0.00 percentage points.
Birchtech's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Birchtech Corp | No | Yes | Yes | - |
| Competitors combined (1) | ||||
| High-Confidence Competitors (3) | ||||
| Similar-Size Competitors (9) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
BCHT Stock Performance relative to its Competitors
BCHT Stock Performance relative to High-Confidence Competitors
BCHT Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Arq Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Birchtech's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Birchtech's Comment on Competition and Industry Peers
Publicly Traded Peers of Birchtech Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Birchtech Corp |
30.25 | 19.18 |
 Arq Inc |
106.52 | 123.44 |
| SUBTOTAL | 136.77 | 142.62 |
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Birchtech Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Birchtech's Competitors Named by the Company
Competitive relationships identified from Birchtech reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Arq, Inc. | Company report | 85% |
| Advanced Emissions Solutions, Inc. | Company report | 85% |
| Norit Activated Carbon | Company report | 85% |
| Nalco Company | Company report | 85% |
| Ecolab | Company report | 85% |
| Calgon Carbon Corporation | Company report | 85% |
| Nalco Water | Company report | 85% |
| Cabot Corporation | Company report | 85% |
| Environmental Energy Services Inc. | Company report | 85% |
| Carbonxt, Inc. | Company report | 85% |
| Albemarle Corporation | Company report | 85% |
| Arq Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Birchtech's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Birchtech's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Birchtech Corp | 30 | - | - |
| Arq Inc | 107 | 611,094 | -258,688 |
| PEERS TOTAL | 107 | 611,094 | -258,688 |
Birchtech's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Arq Inc | United States 95.58 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Birchtech's Position in Industry Market Structure
Market-capitalization share and concentration across all 20 companies in Birchtech's industry classification, broader than the peer set above. Market cap in millions of $.Birchtech ranks #16 of 20 companies by market capitalization in its industry, holding 0.01 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 3,267, indicating a highly concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Thermo Fisher Scientific Inc | 257,756 | 45.82 % |
| 2 | Kla Corporation | 182,756 | 32.49 % |
| 3 | Rockwell Automation Inc | 41,946 | 7.46 % |
| 4 | Coherent Corp | 37,673 | 6.70 % |
| 5 | Trimble Inc | 1,234 | 5.2% |
| 6 | Nova Ltd | 1,234 | 5.2% |
| 7 | Onto Innovation Inc | 1,234 | 5.2% |
| 8 | Mirion Technologies Inc | 1,234 | 5.2% |
| 9 | Camtek Ltd | 1,234 | 5.2% |
| 10 | 908 Devices inc | 1,234 | 5.2% |
| 16 | Birchtech Corp | 30 | 0.01 % |
Market cap and industry share for the rest of Birchtech's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Birchtech's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 11 | Quantum si Incorporated | 290 | -27.22 % |
| 12 | Syntec Optics Holdings Inc | 191 | 59.15 % |
| 13 | Owlet Inc | 119 | -47.60 % |
| 14 | Optex Systems Holdings Inc | 57 | -51.86 % |
| 15 | Geospace Technologies Corp | 1,234 | 12.3% |
| 16 | Birchtech Corp | 30 | -71.78 % |
| 17 | Odysight ai Inc | 1,234 | 12.3% |
| 18 | Multisensor Ai Holdings inc | 1,234 | 12.3% |
| 19 | Us Nuclear Corp | 1,234 | 12.3% |
| 20 | Flexpoint Sensor Systems Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Birchtech's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Birchtech's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Scientific & Technical Instruments industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (36 companies). See the full Scientific & Technical Instruments industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 39.70 % | 38.96 % (avg) | +0.7 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | -19.20 % | 4.25 % (avg) | -23.5 pp |
| Capital Intensity (Capex / Revenue) | 0.70 % | 6.21 % (avg) | -5.5 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Birchtech's Valuation vs Competitive Position
Valuation multiples vs the Scientific & Technical Instruments industry average (36 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Scientific & Technical Instruments industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 60.0x | - |
| EV / EBITDA | - | 24.4x | - |
| P/B | 11.1x | 4.7x | +6.4x |
| Return on Equity | -101.27 % | industry aggregate | -119.12 % |
| Return on Invested Capital | - | -0.95 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Birchtech's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2017 | 2018 | 2019 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue Growth | -14.98 % | -55.29 % | -7.15 % | -17.02 % | -2.98 % | 1.26 % |
| Operating Margin | 0.04 % | -22.34 % | -29.06 % | -48.26 % | -41.12 % | - |
| Return on Invested Capital | 0.28 % | 60.35 % | - | -232.79 % | -62.27 % | - |
| P/E | - | - | - | 70.3x | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Birchtech's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Birchtech falls in the Dog quadrant: relative market share of 0.00x vs its largest competitor, in an industry growing revenue 8.3% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Thermo Fisher Scientific Inc alone holds 46% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Birchtech's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 3,267 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.70 % vs industry average 6.21 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Birchtech's dedicated Suppliers and Customers pages, not here.
Birchtech's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Birchtech falls in the Medium attractiveness / Low strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Birchtech's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Return on equity 119.1 points below the industry aggregate.
- Latest-quarter revenue run-rate is decelerating (-21.0% annualized vs trailing 12 months).
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.00x).
Opportunities
- A meaningful share of competitors (100.00 %) show financial-distress signals, a possible opening to gain share.
Threats
- Industry dominated by Thermo Fisher Scientific Inc , holding 45.82 % of industry market cap.
- Tracked peer group's revenue run-rate is broadly decelerating (-3.2% annualized).
Methodology: see Methodology: SWOT Analysis.
Birchtech's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Birchtech Corp | 0.28 | 1.04 | - |
| Arq Inc | 0.11 | 1.05 | 0.16 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Birchtech's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Birchtech Corp | Q2 2026 | +16.5 % | - |
| Arq Inc | Q2 2026 | +4.5 % | - |
| PEERS TOTAL | +5.8 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Birchtech's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Birchtech Corp | Q2 2026 | +20.7 % | +5,682.7 % |
| Arq Inc | Q2 2026 | -3.6 % | -34.4 % |
Birchtech's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Birchtech Corp | - | - | - |
| Arq Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Birchtech's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Birchtech Corp | - | 1.58 |
| Arq Inc | - | 0.86 |
| PEERS AVERAGE | - | 0.96 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.